AltsVault · Co-investment · SEC EDGAR

Co-investment across funds

Which two books share the same private borrowers.

Asset class

Vehicle

Every pair of funds whose private books share borrowers — 4,593 pairs from SEC filings, sectioned by who runs the two funds. Click a shared count to see the borrowers both books hold, with each fund’s stake side by side; tick funds in the Funds tab to filter pairs to your own selection.

Cross-manager co-lending

Pairs run by different managers that hold the same private borrowers — the crowding signal, separated from the family pairs below that would otherwise drown it.

642 of these pairs have no manager recorded on one side — tagged “manager unknown” below rather than excluded.

top 40 of 4,488 pairs · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →

Pair	Shared	Combined FV	Top shared names
Nuveen Churchill Private Capital Income Fund Nuveen Churchill Direct Lending Corp.NCDL	71.9% of the smaller book	$3.1B	FirstCall Mechanical Group, LLC, Matador US Buyer, LLC (Insulation Technology Group), Kenco PPC Buyer LLC, Trilon Group, LLC, Transit Buyer, LLC (Propark Mobility)
Blue Owl Credit Income Corp. Blue Owl Technology Finance Corp.OTF	79.3% of the smaller book	$32.9B	LSI Financing LLC, Fifth Season Investments LLC, Packaging Coordinators Midco, Inc., Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC, Associations, Inc.
Blue Owl Credit Income Corp. Blue Owl Technology Income Corp.	88.4% of the smaller book	$25.1B	LSI Financing LLC, Packaging Coordinators Midco, Inc., Associations, Inc., Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC, Deerfield Dakota Holdings
Blue Owl Technology Income Corp. Blue Owl Technology Finance Corp.OTF	78.9% of the smaller book	$16.0B	LSI Financing LLC, Inovalon Holdings, Inc., Computer Services, Inc. (dba CSI), IRI Group Holdings, Inc., Certinia Inc.
Main Street Capital CorpMAIN MSC Income Fund, Inc.MSIF manager unknown	100.0% of the smaller book	$6.0B	Gamber-Johnson Holdings, LLC, Hawk Ridge Systems, LLC, Flame King Holdings, LLC, Auria Space, LLC, Direct Marketing Solutions, Inc.
Bain Capital Private Credit Bain Capital Specialty Finance, Inc.BCSF	65.3% of the smaller book	$3.6B	Beverage, Food & Tobacco SauceCo HoldCo, LLC, AEG Vision, BTX Precision, Heads Up Technologies, Inc., Beverage, Food & Tobacco INW Manufacturing, LLC
Blue Owl Capital CorporationOBDC Blue Owl Technology Finance Corp.OTF	58.6% of the smaller book	$18.0B	LSI Financing LLC, Fifth Season Investments LLC, Associations, Inc., Inovalon Holdings, Inc., Blue Owl Credit SLF LLC
Blackstone Private Credit Fund Blue Owl Credit Income Corp.	27.7% of the smaller book	$31.2B	IRI Group Holdings, Inc., Inovalon Holdings, Inc., Guidehouse, Inc., Zendesk, Inc., Unified Women's Healthcare, LP
Blackstone Private Credit Fund HPS Corporate Lending Fund	28.0% of the smaller book	$22.1B	IRI Group Holdings, Inc., Guidehouse, Inc., Zendesk, Inc., Auctane, Inc., Armstrong Bidco, Limited
Golub Capital Private Credit Fund Golub Capital Private Income Fund I	90.2% of the smaller book	$3.3B	Denali Intermediate Holdings, Inc., Netsmart Technologies, Inc., GHX Ultimate Parent Corporation, Dispatch Acquisition Holdings, LLC, CMI Parent Inc.
Golub Capital Private Credit Fund Golub Capital Private Income Fund S	90.2% of the smaller book	$3.2B	Denali Intermediate Holdings, Inc., Netsmart Technologies, Inc., GHX Ultimate Parent Corporation, Dispatch Acquisition Holdings, LLC, CMI Parent Inc.
Blue Owl Technology Income Corp. Blue Owl Capital CorporationOBDC	56.8% of the smaller book	$9.8B	LSI Financing LLC, Associations, Inc., Blue Owl Credit SLF LLC, Inovalon Holdings, Inc., Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC
Nuveen Churchill BDC V Nuveen Churchill Direct Lending Corp.NCDL	86.9% of the smaller book	$1.6B	good2grow LLC, Ivex Holdco Inc. (Specialized Packaging Group), WCHG Buyer, Inc. (Handgards), Empower Brands Franchising, LLC (f/k/a Lynx Franchising LLC), MBS Holdings, Inc.
Blackstone Private Credit Fund Antares Strategic Credit Fund	23.0% of the smaller book	$11.8B	Caerus US 1, Inc., Amerilife Holdings, LLC, Victors Purchaser, LLC, IG Investments Holdings, LLC, Saber Parent Holdings Corp.
NMF SLF I, Inc. New Mountain Guardian IV BDC, L.L.C. manager unknown	76.5% of the smaller book	$2.8B	Wealth Enhancement Group, LLC, Anaplan, Inc., OEConnection LLC, Businessolver.com, Inc., Jeppesen Holdings, LLC
Blackstone Private Credit Fund Golub Capital Private Credit Fund	23.8% of the smaller book	$12.8B	Zendesk, Inc., Anaplan, Inc., IG Investments Holdings, LLC, Baker Tilly Advisory Group, LP, Denali Intermediate Holdings, Inc.
Blackstone Private Credit Fund Goldman Sachs Private Credit Corp.	30.7% of the smaller book	$8.9B	Victors Purchaser, LLC, Saber Parent Holdings Corp., Jeppesen Holdings, LLC, Spectrum Safety Solutions Purchaser, LLC, Galway Borrower, LLC
NMF SLF I, Inc. New Mountain Guardian IV Income Fund, L.L.C. manager unknown	80.0% of the smaller book	$1.5B	Wealth Enhancement Group, LLC, MAI Capital Management Intermediate LLC, Anaplan, Inc., Businessolver.com, Inc., OEConnection LLC
Nuveen Churchill Private Capital Income Fund Nuveen Churchill BDC V	78.7% of the smaller book	$1.3B	Health Management Associates, Inc., Commercial Bakeries Corp., Rhino Intermediate Holding Company, LLC (Rhino Tool House), Legacy Service Partners, LLC, SkyMark Refuelers, LLC
Blue Owl Capital Corp II Blue Owl Technology Finance Corp.OTF	45.9% of the smaller book	$7.7B	LSI Financing LLC, Inovalon Holdings, Inc., Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC, Crewline Buyer, Inc. (dba New Relic), Aerosmith Bidco 1 Limited (dba Audiotonix)
NMF SLF I, Inc. New Mountain Private Credit Fund manager unknown	47.7% of the smaller book	$2.7B	AAH Topco, LLC, Wealth Enhancement Group, LLC, Anaplan, Inc., CCBlue Bidco, Inc., GS Acquisitionco, Inc.
Middle Market Apollo Institutional Private Lending Midcap Financial Investment CorpMFIC manager unknown	59.0% of the smaller book	$1.8B	LashCo Lash OpCo, LLC, Club Car Wash Club Car Wash Operating, LLC, Medical Guardian Medical Guardian, LLC, Berner Foods Berner Food & Beverage, LLC, VikingCloud Bullcave Limited
Stone Point Credit Corp Stone Point Credit Income Fund	87.1% of the smaller book	$2.2B	Wharf Street Ratings Acquisition LLC, Accordion Partners, LLC, Amerilife Holdings, LLC, Accuserve Solutions, Inc., MB2 Dental Solutions, LLC
Blackstone Private Credit Fund Antares Private Credit Fund	20.0% of the smaller book	$10.8B	Caerus US 1, Inc., Medallia, Inc., Amerilife Holdings, LLC, Victors Purchaser, LLC, IG Investments Holdings, LLC
Blackstone Private Credit Fund Ares Strategic Income Fund	11.6% of the smaller book	$9.8B	Spaceship Purchaser, Inc., Databricks, Inc., Odevo, AB, Flexera Software LLC, EMB Purchaser, Inc.
T. Rowe Price Oha Select Private Credit Fund Oha Senior Private Lending Fund (u) LLC manager unknown	96.6% of the smaller book	$2.4B	Aurelia Netherlands MidCo 2 B.V., Shelf Bidco, Ltd., Medvet Associates LLC, Spectrum Automotive Holdings, Corp., Baker Tilly Advisory Group, LP
NMF SLF I, Inc. New Mountain Finance CorpNMFC manager unknown	40.8% of the smaller book	$2.4B	Healthspan Buyer, LLC, Foundational Education Group, Inc., Associations, Inc., Model N, Inc., AAH Topco, LLC
KKR Enhanced US Direct Lending Fund-l Inc. FS KKR Capital Corp.FSK	97.7% of the smaller book	$6.5B	Bonterra LLC, MB2 Dental Solutions, LLC, Frontline Road Safety, LLC, Service Express Inc, CSafe Global
Blackstone Private Credit Fund North Haven Private Income Fund LLC	23.5% of the smaller book	$11.0B	Mantech International, CP, Caerus US 1, Inc., Amerilife Holdings, LLC, Anaplan, Inc., Victors Purchaser, LLC
Goldman Sachs Private Credit Corp. Phillip Street Middle Market Lending Fund LLC manager unknown	96.4% of the smaller book	$5.8B	One, Inc., Pearl Acquisition Buyer, Inc. (dba Alliance Technical Group), AAG KP Borrower LLC (dba KUIU), Eagle Family Foods Group LLC, Rotation Buyer, LLC (dba Rotating Machinery Services)
Kayne DL 2021, Inc. Kayne Anderson BDC, Inc.KBDC	97.6% of the smaller book	$2.0B	BR PJK Produce, LLC (Keany), CREO Group Inc. (HMS Manufacturing), WCHG Buyer, Inc. (Handgards), Vitesse Systems, Carton Packaging Buyer, Inc. (Century Box)
Sixth Street Lending Partners Sixth Street Specialty Lending, Inc.TSLX	88.8% of the smaller book	$8.1B	Ranger Intermediate II, LLC First-lien loan ($300,564 par, due 10/2031), Velocity Clinical Research, Inc., Hotel, Gaming and Leisure AVSC Holding Corp., Hotel, Gaming and Leisure Equinox Holdings, Inc., BCTO Ignition Purchaser, Inc.
Stellus Private Credit BDC Stellus Capital Investment CorpSCM	46.2% of the smaller book	$543M	AGT Robotique Inc Term Loan, Tiger 21, LLC, Term Loan, Guidant Corp Term Loan, Champion Services Acquireco LLC Term Loan, Identity Theft Guard Solutions, Inc. Term Loan
Blackstone Private Credit Fund Blackrock Private Credit Fund	27.9% of the smaller book	$4.7B	Amerilife Holdings, LLC, OMNIA Partners, LLC, Integrity Marketing Acquisition, LLC, Galway Borrower, LLC, Delta Topco, Inc.
KKR FS Income Trust KKR Enhanced US Direct Lending Fund-l Inc.	87.4% of the smaller book	$3.0B	Woolpert Inc, Service Express Inc, Frontline Road Safety, LLC, Rockefeller Capital Management LP, Bonterra LLC
Blue Owl Capital Corp II Blue Owl Technology Income Corp.	40.0% of the smaller book	$2.8B	Inovalon Holdings, Inc., LSI Financing LLC, Blue Owl Cross-Strategy Opportunities 2025-1 LLC (fka Blue Owl Cross-Strategy Opportunities LLC, Anaplan, Inc., CT Technologies Intermediate Holdings, Inc. (& Smart Holdings Corp.) (dba Datavant)
Blackstone Private Credit Fund New Mountain Private Credit Fund	37.6% of the smaller book	$12.0B	Tennessee Bidco, Limited, Auctane, Inc., Brave Parent Holdings, Inc., Smile Doctors, LLC, Anaplan, Inc.
Blackstone Private Credit Fund New Mountain Finance CorpNMFC	32.9% of the smaller book	$8.5B	Tennessee Bidco, Limited, Auctane, Inc., Brave Parent Holdings, Inc., IG Investments Holdings, LLC, Baker Tilly Advisory Group, LP
Blue Owl Credit Income Corp. Golub Capital Private Credit Fund	17.2% of the smaller book	$9.0B	Packaging Coordinators Midco, Inc., Deerfield Dakota Holdings, Denali Intermediate Holdings, Inc., Integrity Marketing Acquisition, LLC, Trucordia Insurance Holdings, LLC
KKR US Direct Lending Fund-U Inc. FS KKR Capital Corp.FSK	97.2% of the smaller book	$5.7B	Bonterra LLC, MB2 Dental Solutions, LLC, Frontline Road Safety, LLC, Service Express Inc, Med-Metrix

Source: AltsVault · SEC filings

Family containment

Pairs run by the same manager — platform plumbing rather than market crowding: one credit platform booking the same loans across its vehicles, often to the point where one book sits almost entirely inside another.

top 40 of 105 pairs · 9 of 35 managers · Issuers are matched on normalised name (~10% measured error each way), so crowding and overlap figures are floors. How this is measured →